RosBusinessConsulting, Russia
April 27 2004

RAO UES to take part in privatization of Turkish energy grids

RBC, 27.04.2004, Moscow 13:58:39.RAO UES does not rule out the
possibility of buying shares of the energy companies in Turkey, RAO
UES’s press department reported. Earlier Turkish authorities
expressed their interest in selling government stakes in the national
power grids by auction before the end of this year. ROA UES might
take part in these tenders.

According to RAO UES Deputy CEO Andrey Rappoport, RAO UES’s
long term targets are to buy shares in the energy companies of
Armenia and Georgia, entering the power market of Iran and Turkey and
creating the base for working with the energy systems of these
countries. Turkey lacks energy supplies and therefore the country is
a good market for importing energy. Energy systems of Russia and
Turkey link the two countries to Armenia and Azerbaijan. Therefore,
the Armenian-Azerbaijani conflict must be solved to make it possible
to supply energy to Turkey.

RAO UES controls 70 percent of energy generating companies in
Armenia and 20 percent of the energy generating companies in Georgia.